WASHINGTON, D.C. – Recently, U.S. Senator Thom Tillis (R-NC) and 18 of his Senate colleagues sent a letter to President Biden describing the actions that the administration can take to ease energy prices and reduce energy shortages this winter. Solutions proposed by the senators include lifting the ban on oil and gas lease sales on Federal lands and waters, accelerating Federal Energy Regulatory Commission (FERC) and Army Corps permitting and interagency coordination to approve pipeline projects, and ending the regulatory uncertainty that is stifling investments in energy.

“Even before colder temperatures set in, natural gas inventories around the nation are 5.5% below the five-year average, and demand has ramped up as the economy continues to recover,” wrote the Senators. “Due to lower supply and higher demand, natural gas prices are more than 250% higher than they were this time last year and the Energy Information Agency (EIA) expects natural gas prices to climb even higher this winter due to supply projections.”

The Senators continued, “After numerous conversations over the last year with domestic energy producers, the number one reason they cite for these higher and increasing prices is depressed investment in our production due to regulatory uncertainty. Business leaders are reluctant to make complex, long-term investments in expensive new wells, pipelines, and other infrastructure critical to increasing production and keeping American energy prices low if these projects will be delayed or overly burdened by new, expansive regulations or taxes.”

Read the full text of the letter here.

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